Millennial Opps: Lazy Dog fills CMO vacancy (Score 49)

Sales lead: Reach out to the new CMO now to be top-of-mind. 

• Lazy Dog Restaurant & Bar (LD) has hired Billy Grenham as CMO.
• Grenham joins from Cyclebar where he held the same title.
• This fills the vacancy we told you about in March. 

Target demographic: Millennials 

The company will likely:

• Keep ramping up ad spend
• Try new marketing channels
• Review agency relationships

Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)

• YTD spend: LD spent about $24.4k on national TV ads YTD, up from $5.7k spent in this channel during the same time period of 2022. 
• 2021-2022 spend: Full-year spend equaled $5.7k in 2022. 
  • It did not air any ads during 2021. 
• Ad location: It placed ads during programming such as NFL Football and Puro Chargers. 

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: LD spent almost $1.4m on digital display ads YTD, a 17% increase from $1.2m spent in this channel during the same time period of 2022. 
• YTD data: 185.4m impressions via Facebook (55%), YouTube (24%), Instagram (20%), and desktop display (1%). 
• 2021-2022 spend: Full-year spend equaled $1.4m in 2021 and $1.2m in 2022. 
• Ad location: It placed 99% of these ads directly onto sites such as facebook.com, youtube.com, instagram.com, yahoo.com, and signupgenius.com. It placed 1% of these ads indirectly through Google AdX+AdSense onto sites such as yahoo.com, news.yahoo.com, dailykos.com, penny-arcade.com, and rediff.com. 

Agency analysis:

• Opportunity: CMO hires are the number one sign of upcoming roster shifts. 
• Current roster:
  • Global Media Group: media buying & planning

Insight Sources: Broadcast insights estimated by iSpot; digital spend insights estimated by Pathmatics.